“Practicing strong data privacy are not only risk minimizing but also a potential source of competitive advantages for any reputed organization”
By MYBRANDBOOK
Debojyoti Mitra
Head – IT
Vishva Electrotech
Digitization - opportunities galore
Digital transformation is a broad IT concept and difficult to define in a word. But the main objective is to replace manual processes with digitally automated tools and techniques. There are different processes and approaches to digital transformation to improve company’s performance and success.
We have already experienced that during COVID situation, how digital transformation and change of information technology concepts can improve business opportunities. But it is true that adopting digital transformation is very difficult for many industries even after they passed through this pandemic situation. Now most of the industries are customer centric and want maximum improvement of customer satisfaction with use of cutting-edge technology and this is the main object of digital transformation.
Using data analytics to understand customer feedback and utilizing it to make marketing strategies for better customer service and improvement of product quality and services.
Technology & Brand amalgamation
As a Consumer product company, it is very crucial for maintaining customer’s data privacy for continuing its brand value and corporate reputation. In today’s digital world, according to most of the consumers, online privacy is nothing but an illusion. According to statistics, very big players having global brands leaked consumer’s data despite having robust security policies. So practicing strong data privacy is not only risk minimizing but also a potential source of competitive advantages for any reputed organization. We are all aware that, most of the consumer product companies use to collect huge consumers personal data for analyzing and planning of marketing strategy, but at the same time, its required to maintain certain security compliance for maintaining customer’s data privacy.
IT: The Future of India
Rapid growth of IT Industries across the world in the last two decades, India has become the world’s IT hub as well as knowledge powerhouse with 80% skilled IT talent. Explosive growth of IT industries has not only contributed to economic growth of the country, but also made the government better and smart management capability in various sectors/ departments.
Indian IT Industries made an exponential contribution in the economic growth of the country and captured the global market approximately $ 200-250 billion in 2020-2021. It is expected that within 2025 Indian IT market will reach $ 350 billion, which is 65% of the global market. India’s IT sector has contributed 11% of India’s GDP, which is really a massive increment compared to 1998-2000.
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